Ronald Pelosi joined Pacific Corporate Group in April, roughly three years after it had invested in SolarReserve, a company official confirmed Thursday. The official said Ronald Pelosi doesn’t stand to profit or lose from the firm’s stake in SolarReserve because he doesn’t have an interest in the fund that made that investment.
The Pacific Corporate Group official said Thursday that no one from the firm had contacted the White House in connection with the application.
“This is an absurd suggestion,” Department of Energy press secretary Damien LaVera said of any connection between Ronald Pelosi and the loan guarantee announcement. “Many months of rigorous technical, financial and legal due diligence was done by nonpolitical career employees to scrutinize every aspect of this transaction – over a period of years.
Nancy Pelosi, at an event Thursday in San Francisco to drum up support for President Obama’s jobs plan, told The Chronicle that she was not familiar with the solar firm, its federal loan application or any association her brother-in-law had with the firm.
Ronald Pelosi is “a great guy,” she said, adding that she was sorry he had been “dragged into this.”
Posted over at Weasel Zippers